1. Field of the Invention
This invention is related to marketing, specifically to targeting consumers to improve marketing.
2. Background Art
As the transactional card industry becomes more competitive, the average number of solicitation offers to customers has risen. This has resulted in declining response rates to offers across the industry. The traditional approach to solving the problem rests on econometric modeling. Typically banks offer a customer a product simply based on a particular credit profile using primarily internal credit performance data (for existing customers) or external credit bureau information. What is needed is a system and method for targeting customers that have a demonstrated need, allowing product offers to be made at the appropriate time and improving response rates for the offers.